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Meinl Airports International Ltd.

EANS-Adhoc: Meinl Airports International Ltd.
Board of Directors decided on initial repayment to AI certificate holders

  ad-hoc disclosure transmitted by euro adhoc with the aim of a Europe-wide
  distribution. The issuer is solely responsible for the content of this
  announcement.
25.05.2009
Board of Directors decided on initial repayment to AI certificate 
holders
Jersey, May 25, 2009 - The Board of Directors of AI Airports 
International Limited announces that it has decided on the initial 
tranche for the capital repayment to certificate holders. This 
decision came after the Jersey Financial Services Commission 
confirmed the validity of the resolutions passed at the Extraordinary
General Meetings on April 22, 2009. The company had previously 
indicated a first interim payment of EUR3.50 per share.  However, the
current Board has now determined, after careful analysis, that the 
maximum first interim distribution justifiable at this time is 
EUR2.25 per share. This new figure is lower than indicated before and
during the EGM on 22 April, 2009 as a result of a re-evaluation of 
contingent liabilities and the potential expenditure that could be 
required in order to maximise value and the ultimate repayments to 
certificate holders. The Board currently expects that the shortfall 
in the current distribution is a timing difference rather than an 
indication of value erosion.
The board also anticipates additional repayments in the future with a
second interim repayment completed as soon as it is prudently able to
do so. The timing and quantum of these future repayments will be made
according to the progress of the ongoing sales process, realising 
value in other potential assets of the Company including the 
resolution of litigation, and from the resolution of the Company´s 
contractual liabilities and other valid claims.
The capital repayment (except in respect of certificates held by the 
company) will be transferred to the shareholders of the company, 
including Oesterreichische Kontrollbank Aktiengesellschaft ("OeKB") 
on or about June 1, 2009. OeKB holds 69,999,997 shares in the company
on account of the certificate holders. OeKB has been instructed to 
transfer the capital repayment received (except in respect of 
certificates held by the company) to the account holding banks on or 
about June 2, 2009, based on the deposit account balances as of June 
1, 2009. The account holding banks will then credit the capital 
repayment to the accounts of the individual certificate holders. No 
action on part of certificate holders is necessary to enable this 
capital repayment.
The ADCs of AI will trade ex-capital repayment from June 2, 2009 on.
All certificate holders are encouraged to take their own tax advice 
regarding the tax treatment of the capital repayment.
Further information about AI Airports International is available at:
www.airportsinternational.eu
AI Airports International Limited is regulated by the Jersey 
Financial Services Commission. The registered office is at 17 The 
Esplanade; St. Helier, Jersey JE4 9NY; Channel Islands
end of announcement                               euro adhoc

Further inquiry note:

Investor Relations and Public Relations
Hochegger Financial Relations GmbH, Dieter Riedlinger-Baumgartner,
T: +43 1 504 69 87 344, M: d.riedlinger@hochegger.com

Branche: Real Estate
ISIN: AT0000A053N4
WKN:
Index: other listings
Börsen: Wien / Third Market

Plus de actualités: Meinl Airports International Ltd.
Plus de actualités: Meinl Airports International Ltd.